LYON, France, Jan. 26, 2012 (GLOBE NEWSWIRE) -- EDAP TMS SA (Nasdaq:EDAP), a global leader in therapeutic ultrasound, announced today that it has restructured its outstanding convertible debt through a privately negotiated exchange with its existing holders of senior debentures and warrants. Certain existing holders of the Company’s senior debentures and warrants have agreed to exchange their outstanding senior debentures and warrants for aggregate principal amount of USD 10 million 9% non-convertible term notes due June 30, 2014, warrants to purchase 408,691 newly issued shares at an exercise price equal to the par value per share and 1,926,685 newly issued shares, in the form of American Depositary Receipts. Certain other existing holders of the Company’s senior debentures and warrants have also agreed to exchange USD 500,000 of total aggregate principal amount of their outstanding senior debentures and warrants for 22,186 newly issued shares and cash in a like amount. Following the exchange, the total outstanding debt of the Company will be reduced to USD 10 million (EUR 7.7 million) from USD 10.5 million (EUR 8.0 million) with an extended maturity until June 30, 2014 instead of October 29, 2012.
